How to Use Elliot Wave Principle in the Forex Market

Elliot wave is essentially a wave angle; Elliot wave is a wave pattern that drives the market.  Elliot wave is thought of by some traders as just a bunch of check in scratch all over your chart, and they have so much trouble, because they don't really understand what it takes to become an excellent wave counter.

Ellioticians are expert wave counters.  They learn to read the market; they learn to read the waves of the market, the patterns and the charts of the market, the chart patterns, and so forth, repetitively, over and over and over, again, all the time in the market.

The challenging part is that they don't repeat themselves in the exact formation every time.  There are probably millions of potential formations for these very similar patterns, to be unfolded.

Becoming an Elliotician is quite frankly one of the important things in my opinion that a person can ever do, to become a successful trader. When you become an Ellliotician, you learn to read the vehicle in the market, and I call Elliot wave the vehicle of the market because everything you see on your charts, is Elliot wave patterns.

Chart patterns, trend lines, wave patterns are all Elliot wave.  When you learn to understand the workings, workings of that vehicle, you find yourself in the driver's seat, driving from one destination to another, in the market place.

The vehicle is the Elliot wave, if you learn it; you probably will increase your ability for cash trades and pick trades, with probably 70 to 90% greater accuracy rate. Now, if that isn't good, I don't know what is. It's not all that is to trading, but it is significant way of trading in my estimate.

Quote of the Day: "Don't leave for tomorrow what you can actually do today."—Sam Awa